What is OPC registration?
One Person Company in India is a new concept that has been introduced with the Company's Act 2013. One Person Company in India is incorporated by a single person. Before the enforcement of the Companies Act 2013 a single person was not able to establish a company. An OPC has features of a Company and the benefits of the sole proprietorship. Earlier if a person had to establish a business then he or she should only opt for a sole proprietorship.
According to Section 2 (62) of the Company's Act 2013, a company can be formed with just 1 director and 1 member. One Person Company registration in India is a type of entity where there are lesser compliances requirements than that of a Private Limited Company.
A One Person Company Registration in India can be obtained under the Companies Act 2013 with just one single member and one Director. The Director and member can also be the same person. Here an individual who may be a resident or Non-resident Indian can register an OPC in India.
Documents Required for OPC Registration:
To register a One Person Company in India an applicant has to submit the following documents:
- • PAN Card
- • Aadhar Card
- • Photo Of( Director and Nominee)
- • Latest Bank statement or any bill that bears the name of the Director or the nominee
- • Latest Bill for the office address.
Procedure to obtain OPC Registration
How to obtain OPC registration?
Application for DSC: The following documents are required to obtain the Digital Signature Certificate for the proposed Director for which the following documents need to be submitted:
- • Address proof
- • Aadhar Card
- • PAN Card
- • Photo
- • Email Id
- • Phone Number.
Application for the Director Identification Number: Once the DSC is obtained the next step is to apply for the DIN for the proposed Director in SPICe Form along with the name and address proof of the Director. Form DIR 3 is the only option that is available for existing companies. W.E.F from January 2018 the applicant is not required to file Form DIR 3 separately. DIR 3 can be applied within the SPICe Form for up to three Directors.
Name Approval Application: The next step while incorporating an OPC is to decide the name of the Company. The Name of the company can be approved in the SPICe+ 32 application. In case the name gets rejected another name can be submitted by making an application another SPICe+ Form.
Once the name is approved by the MCA we move to the next step to draft the MOA and AOA of the company.
MOA and AOA preparation: The Memorandum of Association and Article of Association are to be submitted to the ROC.
The Memorandum of Association consists of the objectives that are to be followed by the Company. The MOA states the business for which the company is being incorporated.
The Articles of Association lays down the laws on which the company will operate.
As there is only 1 Director and a member a Nominee has to be appointed because in case of incapacitation or death of the promoter the Nominee has to take the place. The consent of the Nominee will be taken along with the PAN and Aadhar card in Form INC 3.
Declaration and Consent of the proposed Director will be taken in Form 9 and DIR 2 respectively.
A declaration by a professional certifying that all the compliances are met.
Filing Forms with MCA: All the documents will be attached in the SPICe Form, The MoA and the AoA will be uploaded on the site for approval.
Issuance of Certificate of Incorporation: On verifying the Registrar of Companies will issue the Incorporation and the business can be commenced.